LBO France sells its office building in WEST PARK to AXA IM – Real Assets

Paris, July 3, 2017 – LBO France today announced that it has sold its office building in WEST PARK to AXA Investment Managers – Real Assets (AXA IM – Real Assets) acting for the account of its customers.

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Built in the 1980s, the WEST PARK was acquired in October 2015 by White Stone VI, a real estate fund managed by LBO France, to carry out a programme of complete restructuring the delivery of which is scheduled for the end of 2017. As LBO France had announced last march, the WEST PARK is already fully pre-leased to Groupama, following the signing of a Lease agreement in State of Future Completion of a fixed term of 12 years and is one of 5 buildings of a future campus of 55, 000m2 on which the insurer provides for the grouping of almost 3 200 of its employees in the course of the next few months.

Located in the first curtain of the Terraces of the Ark aÌ Nanterre, at the foot of the station Nanterre Preìfecture of the RER A and in the immediate vicinity of the future station of the Grand Paris Nanterre La Folie, the WEST PARK is an office building of 20 100m2, spread over 11 floors, of which 3 levels of parking basements with a capacity of nearly 200 seats. Organiseì around a landscaped patio, this set offers aÌ its future user a privileged location on the couleìe green connecting deìsormais directly to the Terraces to The Defense, the main business district in western paris.
WEST PARK beìneìficie double environmental certification (NF Tertiary buildings Deìmarche HQE and BREEAM ” Very Good “) and a certification BBC Effinergie level of “Excellent”, thus illustrating perfectly the initiatives and commitments of LBO France in matieÌre ESG.

Stéphanie Casciola, Partner, Head of real estate funds at LBO France, said : “We are particularly proud to have been able to transform this complex project in an attractive investment. This once again demonstrates the ability of LBO France to identify assets promising in terms of creation of value and to lead to their repositioning so that they best meet the requirements of investors long-term. ”

In the framework of a call for tenders conducted by CBRE Capital Markets, commissioned by co-exclusive with SAVILLS France, LBO France (Stéphanie CASCIOLA, Julien ROUILLON) was advised by the law firms of ORRICK (Patrick TARDIVY) and KRAMER LEVIN (Pierre APPREMONT), the study MONASSIER, BURTHE-MIQUE and Associates (Wilhelm PALACE) and the technical board ROM (Hervé ROUX).
AXA IM – Real Assets was advised by the law firm DEPARDIEU (Paul TALBOURDET, Emmanuel BALD), the specialist in financial due diligence ACCURANCY (Nicolas PAILLOT DE MONTABERT), the study CHEVREUX (Jean-Félix FERRUS) and the technical council THEOP (Sébastien ALPHAND).

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About LBO France
Present for more than 30 years in France on the segment not rated as a major actor in capital investment, with € 3.6 billion of capital under management, LBO France is a company fully independent since its creation. Its strategy is based around 4 areas of investments brought by dedicated teams : (i) the capital investment Mid Cap through funds White Knight, and Small Cap through funds Hexagon, (ii) the capital innovation through of the funds Innovation Capital, (iii) the real estate through funds provided by the White Stone and Lapillus, (iv) the debt.

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